Solana Meme Coin Moo Deng Surges 80% on Coinbase Listing Plans

Popular Canine-Themed Token Sees Explosive Growth Following Major Exchange Announcement

  • Moo Deng (MOODENG) price increased 80% after Coinbase listing announcement
  • Current trading price at $0.57, showing 54% growth in 24 hours
  • Token remains 16% below November all-time high of $0.68
  • Notable case study: $800 investment turned into $7.5 million
  • Limited liquidity remains a primary concern for large-scale traders

Solana-based meme token Moo Deng (MOODENG) experienced an 80% price surge within an hour following Coinbase’s announcement of its planned listing, highlighting the sustained market appetite for alternative digital assets.

- Advertisement -

Price Movement Analysis

According to CoinGecko data, MOODENG currently trades at $0.57, marking a 54% increase over 24 hours. The token, which gained market attention in September 2023, remains 16% below its November peak of $0.68.

Coinbase Effect in Action

The price movement follows Coinbase’s Monday announcement adding MOODENG to its listing roadmap. The Coinbase effect – a phenomenon where tokens typically appreciate after listing announcements on major exchanges – continues to influence market dynamics. Historical patterns suggest trading could begin within the same day of the roadmap addition.

Solana Ecosystem Growth

MOODENG operates on the Solana blockchain, which has emerged as a preferred platform for new token launches in 2024. The network’s high transaction speed and low fees have attracted numerous token developers and traders.

Investment Case Study and Risks

A notable success story emerged when one trader transformed an $800 investment into $7.5 million through MOODENG trading. However, market participants face significant challenges:

  • Limited liquidity pools restrict large-scale exits
  • Rapid price movements can lead to substantial losses
  • Market impact of large transactions can trigger price crashes

Market Context

The meme token surge aligns with Bitcoin‘s recent all-time highs, demonstrating the broader cryptocurrency market’s risk appetite. These tokens, based on internet culture and current events, represent a high-risk, high-volatility segment of the digital asset market.

✅ Follow BITNEWSBOT on Facebook, LinkedIn, X (Twitter), and Google News for instant updates.

Previous Articles:

- Advertisement -

Latest

TON Blockchain Hit by Outage, Block Production Halts Temporarily

The Open Network (TON) blockchain experienced a temporary outage on June 1, stopping block production for about 40 minutes.The issue was fixed quickly by...

Pi, IMX, ZBCN in Focus as Key Token Unlocks Threaten More Losses

The crypto market experienced a sharp drop as Bitcoin fell from $111,900 to below $104,000, resulting in widespread altcoin declines.Investors are closely watching key...

Crypto’s “Inverse Cramer”: Trader Gains Millions Opposing James Wynn

A trader known as James Wynn became notable for a $1 billion Bitcoin short position on the Hyperliquid platform.Other crypto traders have started to...

Bitcoin Drops 10% From Highs Amid Quantum Computing Warnings

Bitcoin dropped nearly 10% from its record high, falling close to $103,000 after reaching $112,000 last week. BlackRock warned that advances in quantum computing could...

Czech Justice Minister Resigns Over $45M Bitcoin Donation Scandal

Czech Justice Minister Pavel Blazek resigned after controversy over accepting and selling Bitcoin from a convicted criminal.The Justice Ministry auctioned nearly 500 Bitcoin, raising...

Must Read

Top 8 Best Anonymous Web Hosting Companies That Accept Crypto

Nowadays, there is plenty of information about people online, and malicious people use them to carry out inappropriate activities. If you want to keep...